Vote Summary Report Date Range Covered: 04/01/2018 to 06/30/2018
Total Page:16
File Type:pdf, Size:1020Kb
Reo@ Voting Report The SEI Emerging Markets Equity Fund VOTING RECORDS FROM:01/04/2018 TO: 30/06/2018 The SEI Emerging Markets Equity Fund All Votes Report Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018 3SBio Inc. Meeting Date: 06/20/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 1530 Primary ISIN: KYG8875G1029 Primary SEDOL: BY9D3L9 Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 1 Accept Financial Statements and Statutory Mgmt For For Reports 2a Elect Su Dongmei as Director Mgmt For For Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, for companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. 2b Elect Liu Dong as Director Mgmt For For 2c Elect David Ross Parkinson as Director Mgmt For Against Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time. 2d Authorize Board to Fix Remuneration of Mgmt For For Directors 3 Approve Final Dividend Mgmt For For 4 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration 5A Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company. 5B Authorize Repurchase of Issued Share Capital Mgmt For For 5C Authorize Reissuance of Repurchased Shares Mgmt For Against Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock. AAC Technologies Holdings Inc. Meeting Date: 05/28/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 2018 Primary ISIN: KYG2953R1149 Primary SEDOL: B85LKS1 Page 1 of 367 The SEI Emerging Markets Equity Fund All Votes Report Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018 AAC Technologies Holdings Inc. Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 1 Accept Financial Statements and Statutory Mgmt For For Reports 2 Approve Final Dividend Mgmt For For 3a Elect Koh Boon Hwee as Director Mgmt For Against Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. Moreover, directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. Finally, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. 3b Elect Mok Joe Kuen Richard as Director Mgmt For For 3c Elect Au Siu Cheung Albert as Director Mgmt For For 3d Elect Kwok Lam Kwong Larry as Director Mgmt For For 3e Authorize Board to Fix Remuneration of Mgmt For For Directors 4 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration 5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company. 6 Authorize Repurchase of Issued Share Capital Mgmt For For 7 Authorize Reissuance of Repurchased Shares Mgmt For Against Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock. Accton Technology Corp. Meeting Date: 06/13/2018 Country: Taiwan Meeting Type: Annual Ticker: 2345 Primary ISIN: TW0002345006 Primary SEDOL: 6005214 Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 1 Approve Business Operations Report and Mgmt For For Financial Statements 2 Approve Profit Distribution Mgmt For For Page 2 of 367 The SEI Emerging Markets Equity Fund All Votes Report Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018 Accton Technology Corp. Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 3 Amend Articles of Association Mgmt For For 4 Amend Rules and Procedures Regarding Mgmt For For Shareholder's General Meeting 5 Amend Rules and Procedures for Election of Mgmt For For Directors and Supervisors ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING 6.1 Elect Kuo Fai Long, Representative of Kuan Sin Mgmt For For Investment Corp, with Shareholder No. 248318, as Non-independent Director 6.2 Elect Lin Meen Ron, Representative of Kuan Sin Mgmt For For Investment Corp, with Shareholder No. 248318, as Non-independent Director 6.3 Elect Huang Kuo Hsiu with Shareholder No. 712 Mgmt For For as Non-independent Director 6.4 Elect Du Heng Yi, Representative of Ting Sing Mgmt For For Co., Ltd. with Shareholder No. 192084, as Non-independent Director 6.5 Elect Liu Chung Laung with ID No. S124811XXX Mgmt For Against as Independent Director Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. 6.6 Elect Chang Chih Ping with ID No. E101545XXX Mgmt For Against as Independent Director Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties. 6.7 Elect Chen Shuh with ID No. P101989XXX as Mgmt For For Independent Director 6.8 Elect Lin Shiou Ling with ID No. A202924XXX as Mgmt For For Independent Director 6.9 Elect Chen Wei Zen with ID No. R101084XXX as Mgmt For For Independent Director 7 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Newly Appointed Directors and Representatives Voter Rationale: Companies should clearly disclose the business benefits cross directorships will bring, or how conflicts of interest or competition concerns will be managed if these directors engage in business activities with competitors. Acer Inc. Meeting Date: 06/15/2018 Country: Taiwan Meeting Type: Annual Ticker: 2353 Primary ISIN: TW0002353000 Primary SEDOL: 6005850 Page 3 of 367 The SEI Emerging Markets Equity Fund All Votes Report Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018 Acer Inc. Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. 2 Approve Profit Distribution Mgmt For For 3 Approve Cash Distribution from Capital Reserve Mgmt For For 4 Approve Plan for Future Listing of Subsidiaries Mgmt For For and Allow Affiliated Entities to Dispose Their Shareholding in Said Subsidiaries and Waiver to Participate in the Company's Cash Increase Plan Advanced Ceramic X Corp. Meeting Date: 06/19/2018 Country: Taiwan Meeting Type: Annual Ticker: 3152 Primary ISIN: TW0003152005 Primary SEDOL: B04S935 Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. 2 Approve Plan on Profit Distribution Mgmt For For 3 Approve Amendments to Articles of Association Mgmt For For 4 Approve Amendment to Rules and Procedures Mgmt For For for Election of Directors Agile Group Holdings Ltd. Meeting Date: 05/14/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 3383 Primary ISIN: KYG011981035 Primary SEDOL: B0PR2F4 Page 4 of 367 The SEI Emerging Markets Equity Fund All Votes Report Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018 Agile Group Holdings Ltd. Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 1 Accept Financial Statements and Statutory Mgmt For For Reports 2 Approve Final Dividend Mgmt For For 3 Elect Chen Zhuo Lin as Director Mgmt For For Voter Rationale: The roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability. Furthermore, for companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders 4 Elect Luk Sin Fong, Fion as Director Mgmt For For 5 Elect Chan Cheuk Nam as Director Mgmt For For 6 Elect Cheng Hon Kwan as Director Mgmt For For 7 Authorize Board to Fix Remuneration of Mgmt For For Directors 8 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration 9A Authorize Repurchase of Issued Share Capital Mgmt For For 9B Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in